The Most Important Estate Planning Tip?

Take the details of your entire financial life — everything from business checking accounts to kids’ college funds — and give copies to your estate planning attorney. Then, give your wife and mother or adult children one of the lawyers’s business cards and say, “If something happens to me, call this lawyer.”

That’s the advice given in a column in Forbes that says it is an unconventional but important estate planning tip.

Included in the information given to your attorney should be your will, IRSA beneficiary forms, life insurance policies, locations of all bank accounts, and anything else that is important.

This will make it less stressful for your spouse or survivors if something were to happen to you.

But do not give your attorney your passwords, the story says. While the attorney may be trustworthy, someone in his or her office may not be.

If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.

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